FUGIO CENT UPDATE: THE GRADING VERDICT IS IN!

ColonialDude

ColonialDude

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Jul 5, 2004
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Canada
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As promised...I am providing everyone who has been watching this thread with an update on my Fugio cent. The coin is on route back to me as I type this...

Here is some info from an e-mail from ANACS:

Date Denom Grade Variety Superlative
1787 1C VF FUGIO K-4E BR

The variety is also known as a Newman 4E...which I believe some posters suggested.

Redbook value is I believe around $2000.00 U.S...of course it would never fetch that at auction...but it beats a $50.00 coin!

Thanks everyone for your interest and comments on this coin. Certainly my best coin find to date! The second best being a very rare blacksmith token.


not on Canadian soil at least!

I escaped the house again today, but only for an hour...I was actually out trying to help out a guy that wanted some tips and tricks on collecting indian artifacts and arrowheads. He wanted pointers on what to look for and where to look.

I figured I would go along, help out where I can, and maybe find an arrowhead or two...

we hit a little plateau near the river. The field had JUST been plowed, and not rained on yet...so visibility sucked, and I wasn't expecting to find much.

As I walked up the crest of a little knoll, I noticed a piece of glass...then another....about 4 in total...then there it was, laying flat on the surface....and I knew from 10 feet away it was a coin. However, I didn't know what it was, as it was caked with dirt and crust. I put it in my pocket and decided to wait to clean it up and home and check it out.

Over the next little bit I found two nice old flat buttons, one pewter, crusty, but I can make out a design. The other silver plated.

Anyhow, I was shocked when I got it home and cleaned it up. I knew instantly what I had, as these coins are hard not to recognize. The first American penny ever made :) I'm pumped! I am not sure if it is damaged, or if it was perhaps a die flaw??? It doesn't really seem like later damage to me.

Again, these finds were eyeballed in a field where not much was showing as it hasn't been rained on yet. I can't wait to get back there with my detector and see what I can find!!
 

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Re: I never thought I would find one of these!!!!

Don in SJ said:
Wes, excellent find "North of the Border" :) I spent some time last night looking at my colonial coin auction catalogs and some on-line auction prices (NOT e-bay).

Since collectors are finicky about corrosion, and color and such, even in the Federation era coins, I will give my opinion on what I think it might graded as and possible worth.
My estimates are only amaueter estimates and don't take it to the bank on what I say, but I am fairly certain I am in the ballpark.

Yes, it is a N.4-E, I really do not see much difference on the Club Ray side from the N-3.D which is more common than the E that you have found but when I compared photos of a 3.D against a 4.E, I did notice the one ray going to the star above the date, goes more directly closer to the center of the star and on the 3.D is goes to the lower side, so that was enough difference for me to agree on the 4.E attribution.

I looked at an colonial coin auction that was held this past December and also at some other online auctions. There were two 4.E's in that auction and one did not sell, and the other one went for over 900 dollars. One was a VF40, but with environmental damage (microscopic roughness under an olive tone patina) and that one did not sell. The other one that sold for over 900 dollars, was a VF20, but had a glossy light to medium brown toning and only one tiny mark. It seems eye appeal is a lot of this series selling.

I do not think your coin would grade higher than VF20, more likely a Fine grade with environmental damage and rim damage and some downing for the void on it. Very hard to tell overall condition from the photo.

Not knowing much more about Fugio's but going from what I have seen on the auctions, your's could vary greatly and be anywhere from 150 -600, maybe more, but I would stay more on the conservative lower side of that guesstimate on my part.

I think you have found a beautiful piece, I know the condition is rather good for a ground found and it would look good in any of our collections.

Don
Click to expand...

Hi Don. Thanks very much for your opinion and input. I can appreciate everything you have said, and can understand your points. You probably have a lot more knowledge on coin grading, and certainly more experience with U.S. coins period.

I have pretty much convinced myself it will not grade well, but I think the experience of having one graded is pretty fun, and interesting.

I will say however, the coin does not appear to be damaged on the rim. At least not after the minting process...I don't think so anyhow. It appears it was perhaps a planchet flaw, and the same goes for the "indentation" over the last "7" of the date. Of course, I could be very wrong. Just my thoughts. It doesn't seem consistant with any damage I have seen on any colonial coins. I agree there is environmental damage for sure.

I sent it off today for grading just for the hell of it.

I will let you know if you were correct in your assessment.
 

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Re: I never thought I would find one of these!!!!

I will help Ed beat the horse. Nice Nice Nice.
Burdie
 

Re: I never thought I would find one of these!!!!

I would have passed out!

An amazing find!!!
 

Re: I never thought I would find one of these!!!!

Though redbook is usally higher than most coins actually go for, Rare ones (and I belive this would fall in that catagory) as of late have been exceding redbook prices dramaticly, Wow!! what a find.
 

Re: I never thought I would find one of these!!!!

Absolutely terrific find. Congratulations, HCR
 

Re: I never thought I would find one of these!!!!

Let us know how you make out with the grading company. Most colonial collectors aren't too fond of slabbed colonials, the grading companies don't generallly do as well with colonials as with US coinage. There are many cases of misattributions as well as grades that are way off. I have been collecting colonials for 35 years or better and Fugios are one of my favorites. The dent on yours is probably a planchet void, the club rays are not known for the best planchets. Both round end club ray varieties are listed as R3 for rarity, but the 3D doesn't seem to show up as often. Regardless of what the grading co. says, you have a great coin!
 

Re: I never thought I would find one of these!!!!

Great Find ;D
 

Re: I never thought I would find one of these!!!!

What an exciting find! Congrats Wes, and I agree with you, sending it off to be graded is half the fun. Then, you'll know what its worth now, and these coins are only going to increase in value year-in-and-year-out. Stick it in your collection, in a nice display as the centerpiece.
 

Re: I never thought I would find one of these!!!!

WOW talk about cool! Be it a grand or ten grand in true monetary value, in my world it would be priceless. Pretty much a guarantee the value will not reduce with age.
GREAT EYEBALL FIND!!!

HH
~Nash~
 

Re: I never thought I would find one of these!!!!

whoa whoa whoa
 

Re: I never thought I would find one of these!!!! (update: Second hunt)

well I managed to get to the site where I found the fugio cent finally...this time with a detector in hand.

I only had a couple of hours...and I wish I could have spent an entire day there.

It appears this field actually held at least three homesteads at one time. From what little I have to go on, two of these existed from the mid 1800's or so, and one was still there in the 1920's.
The third from the 1780's to 1820's possibly.

I focused on the 1780's area as I was hoping to turn up some more oldies, but it wasn't meant to be on this day. As usual, the buttons came fast and furious...for a total of 21. There are plain tombacs, designed tombacs, pewter flowered, silvered, etc.

Not sure what the two items on the top left are!? Any ideas???

The quarter on the top right I found swinging my way back to the car...1919.

Thanks for looking
 

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Re: I never thought I would find one of these!!!! (update: Second hunt)

Thanks for the update. More great finds. Is there a LC in there?

That site would be an awesome site to detect.

Bob
 

Re: I never thought I would find one of these!!!! (update: Second hunt)

If the top left has another loop (can't see in picture), then its a piece of horse harness gear. Looks Victorian.
 

Re: I never thought I would find one of these!!!! (update: Second hunt)

CRUSADER said:
If the top left has another loop (can't see in picture), then its a piece of horse harness gear. Looks Victorian.
Click to expand...

Yep, it does. You have confirmed my suspicions. Well, I didn't know it was a piece of horse harness...but figured it was something along those lines, and more modern. That makes sense as it was found closer to one of the newer homesteads. I just knew that there is a similar item...a sword hanger or something to that effect that is of very similar design...I didn't get my hopes up though as it just didn't look right, and old enough.

Thanks for the comments :)

Hopefully I will have a better update soon...at least with some better finds to share. The age is certainly there...so you never know what will come out of the ground...and there is lots left to search.

My coin (fugio) has been sent off to ANACS...and I await the verdict.

Wess
 

Re: I never thought I would find one of these!!!! (update: Second hunt)

WessThompson said:
CRUSADER said:
If the top left has another loop (can't see in picture), then its a piece of horse harness gear. Looks Victorian.
Click to expand...

Yep, it does. You have confirmed my suspicions. Well, I didn't know it was a piece of horse harness...but figured it was something along those lines, and more modern. That makes sense as it was found closer to one of the newer homesteads. I just knew that there is a similar item...a sword hanger or something to that effect that is of very similar design...I didn't get my hopes up though as it just didn't look right, and old enough.

Thanks for the comments :)

Hopefully I will have a better update soon...at least with some better finds to share. The age is certainly there...so you never know what will come out of the ground...and there is lots left to search.

My coin (fugio) has been sent off to ANACS...and I await the verdict.

Wess
Click to expand...

Yeap often mistaken for sword hangers.

Keep pulling out them oldies - I dreaming of harvest already!
 

Re: I never thought I would find one of these!!!! (update: Second hunt)

Fantastic finds, man. Congrats. You've got a great spot to detect. The Fugio Cents were usually made of copper. Your Fugio looks like it's silver. There is only one silver version listed in the Redbook, a restrike from 1860. Value is shown as $1,100 in EF. It's still a great find and I think ANACS will do a good job on the grading.
Bob
 

Re: I never thought I would find one of these!!!! (update: Second hunt)

Awesome Coin!!
 

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